The issue opened for bidding on Thursday (20 March 2025) and it will close on Monday (24 March 2025). The price band of the IPO is fixed between Rs 107 to Rs 113 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on NSE’s SME platform.

The IPO of 65,89,200 equity shares comprises a fresh issue of 62,60,400 equity shares and offer for sale (OFS) of 3,28,800 equity shares. About 3,30,000 equity shares will be reserved for subscription by market makers to the issue.

The company intends to utilize the net proceeds for repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company, expansion of the hotel properties in India and general corporate purposes.

Ahead of the Grand Continent Hotels on Wednesday, 19 March 2025, raised Rs 21.16 crore from anchor investors. The board has allotted 18.73 lakh shares at Rs 113 per share to 7 anchor investors.

Grand Continent Hotels is a player in the mid-scale hotel sector, targeting the upper-mid priced, mid-priced, and economy hotel segments. The company focuses on providing a differentiated and superior service experience for middle-class Indian guests and business travelers, with a strong emphasis on offering value-for-money propositions. As of 30 September 2024, the company operates 16 hotels across various states, including Karnataka (Bengaluru), Tamil Nadu (Hosur), Goa (Anjuna), Andhra Pradesh (Tirupati), and Telangana (Secunderabad), with a total of 753 keys. The adjusted occupancy rate across all properties for the six-month period ending 30 September 2024, stood at 72.33%. For FY 2024, the occupancy rate was 75.17%, compared to 79.00% in FY 2023 and 61.90% in FY 2022. As of 30 September 2024, the company had 538 employees.

The company recorded revenue from operations of Rs 31.84 crore and net profit of Rs 6.81 crore for the period ended 30 September 2024.